> This matches my experience with DeepSeek V4 Pro at Max reasoning,

That was ages ago (in LLM release timelines). DeepSeek V4 Flash beats it now and a lot cheaper.

> On similar tasks, GLM 5.2 at Max reasoning screwed up maybe 20-30% of the time,

GLM 5.3 bridges this gap.

> I'd say as Chinese models get better, whatever moat Anthropic and OpenAI have dissipates.

Their moat, especially OpenAI is funding and hardware resources. They gain train models 10x as large and also serve at large scale. That's it.